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NTPC summer internship report

NTPC summer internship report

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Published by Siddharth
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Published by: Siddharth on Aug 01, 2009
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08/02/2013

 
Acknowledgement
 These eight weeks at National Thermal Power Corporation (NTPC) have been a greatlearning experience. It has been one of the most enriching experience for me to workalong with the employees of one of the best managed organizations, a companyrightly considered as one of the Navratna’s in the public sector of the country..I am very thankful to Sh. G.K Sadhu , AGM(finance) who has given me fullopportunity to learn the tendering operations executed here. . I am also thankful tomy project guide Sh. V Vasu, DGM (FIN) and. Sh. N. Madhusudan,DGM(F), Sh. AASheikh, DGM (FIN), Sh.YR Dhingra, M(F) , Sh. D Bahuguna, SM(F), Sh. PK Goel,SM(F),.Sh RS Sodhi, DM(F),Sh. SK Awasthy,M(F) and Sh. Vishal Garg for their support,guidance and providing the valuable information from there vast experiences
 
ABSTRACT
 The report entitled “Contract and Procurement Management at N.T.P.C ” is about thepurchase practices followed at NTPC. These practices are followed during allprocurement by NTPC. The purchase procedure starts at Indenting by the departmentthat requires the material and goes to the cost department and finance departmentfor required approval. In between various activities like Liquidated Damagescalculation, Spare Parts procurement terms, Guarantee in Liability Defect period etcare undertaken. Once all the terms and conditions are formulated and approved, thetender document preparation starts. The tender documents are issued to theprospective bidder for a cost that starts from Rs 200 to Rs 3000. The content of thetender document is prepared in such a manner that the prospective bidder comes toknow about all the important details about the contract. The issuance of tenderdocument is followed by the receipt of Bids from various vendors in the specifiedformat. Once all the bids are received, they are opened in presence of somenominated officials from Finance, Contracts and Materials department. Therepresentatives from the bidders may also be present. Then a comparativestatement of the quoted bids is prepared and the contract is awarded to the lowestquoting bidder.During the document preparation phase, payments terms are also decided anddocumented in the General Condition of Contract, which is issued to the bidder withthe tender documents. Apart from payments, there are various other issues likeArbitration, which are dealt in the tender documents. Liquidated Damages is one of the very important clauses. Liquidated damage is a payment to be made by thecontractor in case he fails to complete the project in the stipulated time. In case of equipment, it is related to the performance of the equipment. The purchase isfollowed by the evaluation, which is done for two things, the vendor’s performanceand the purchase performance. The Vendor evaluation comes in handy for placingfuture orders where as the Purchase Performance evaluation provides detailedinsight into the procedures being followed to procure the required material.
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INTRODUCTION
 The electricity services in India were generally provided by the State ElectricityBoards, as it was believed that being under the control of the State governments,they could protect the consumer interests against exploitation. Over a period of time, it however, came to be realized that because of their monolithic nature, theState Electricity Boards suffered from operational inefficiencies on account of which they had incurred heavy losses. The services rendered by them were alsoof poor quality. These factors forced the governments to think in terms of commercialization of the services so that the additional investments necessaryfor infrastructure development become available through private sectorinvolvement and the services rendered become globally competitive.Central Government issued a policy resolution dated 22-10-1991 on privatesector participation in power sector. It was followed by necessary changes in thelegal framework. Despite the policy of liberalization, the entry of new playerscontinued to be regulated by the government who remained the final arbiter inall matters, including tariff fixation. It became necessary, therefore, to provide alevel playing field to new players and to provide for competition. It was decidedto encourage private sector participation in the generation, transmission anddistribution since future expansion could not be achieved through publicresources alone. Thus, the phenomenon of private sector involvement in powersector is a relatively modern reaction to the revealed concerns and issuesassociated with complete reliance on the public sector provision of infrastructure.It should also be decided to set up independent Central and State RegulatoryCommissions.Promotion of competition, efficiency and economy in electricity industry can beconveniently achieved through the process of competitive bidding. The CentralGovernment issued detailed guidelines for competitive bidding of power projectsin January 1995 whereby the competitive procurement of power sector projectswas made mandatory. These guidelines laid emphasis on project identification, justification and development before taking up competitive bidding.
RESEARCH METHODOLOGY:
Primary Objective: -
The objective is to study the Financial Position & Procurement proceduresfollowed at NTPC. To understand the working and financial position of NTPC andthe way NTPC procures raw materials for its various power plant.
 
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